Business
Third Gold Tribute Agreement
Third Gold Tribute Agreement.
About this update from Keras Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9185R Keras Resources PLC 14 March 2016 \n\nClick on or paste the following link into your web browser to view the associated PDF.\nhttp://www.rns-pdf.londonstockexchange.com/rns/9185R_-2016-3-13.pdf \n\n \nKeras Resources plc / Index: AIM / Epic: KRS / Sector: Mining\n14 March 2016\nKeras Resources plc ('Keras' or 'the Company')\nThird Gold Tribute Agreement Signed Over 215,000 Ounce Resource\n \nKeras Resources plc, the Australian gold mining company, is pleased to announce a potential increase in its gold tribute inventory after signing a binding profit share agreement with KalNorth Gold Mines Limited ('KalNorth') over the Lindsay's Project in the Western Australian goldfields (the 'Agreement').\n \nUnder the terms of the Agreement, Keras has been granted an exclusive and irrevocable option to mine the Lindsay's Project in consideration for a share of the net revenues derived from the Lindsay's Project (the 'Option'). Upon exercise of the Option, Keras and KalNorth will enter into a formal agreement which will contain full representations and warranties in respect of the Lindsay's Project, prior to the commencement of mining operations.\n \nThe Lindsay's Project is located 65km NNE of Kalgoorlie and about 60km NE of the Grants Patch Gold Tribute Project ('the Project'), where the Company is on track to commence initial mining in the very near-term.\n \nHighlights\n \n· Lindsay's Project incorporates total open pit and underground resources of 215,100 ounces Au at a grade of 1.7g/t Au of which 77% falls in the Indicated Resource category\n· Includes the high-grade Parrot Feathers deposit (likely to be an underground operation) which comprises a resource of 401,000t at a grade of 4.2g/t Au containing 54,000 ounces Au\n· Significant exploration potential down dip at Parrot Feathers, mineralisation extends up to 200m below the resource base with historic drill intercepts outside the resource including 1.15m @ 10.12g/t and 2.8m @ 4.41g/t from hole LD001\n· All permits in place, Keras to revise the current proposal to mine\n· Targeting mining for H2 2016\n· Profit share arrangement \n· ...